January 16, 2015

Quote of the Day

Stealing the WSJ's Notable & Quotable:

Changing analogies somewhat: just as a Toyota Yaris cannot be made as valuable to car buyers as is the more luxurious Toyota Avalon by a government diktat demanding that Yarises sell at prices no lower than the price of Avalons--just as such a diktat simply ensures that sellers of such low-end cars find no buyers--a low-skilled worker cannot be made as valuable to labor buyers as is a higher-skilled worker by a government diktat demanding that hours of low-skilled work sell at wages no lower than the wage of higher-skilled workers. Such a diktat simply ensures that sellers of such low-skilled work find no buyers. -- Don Boudreaux

Quote of the Day Posted by John Kranz at January 16, 2015 11:45 AM
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